Brennan Investment Group Acquires 157,412-Square-Foot Class A Industrial Building in Piedmont, SC
Brennan Investment Group has acquired a 157,412-square-foot Class A industrial building in Piedmont, South Carolina, the Chicago-based private real estate investment firm announced July 27, adding another asset to its growing Carolinas portfolio through a value-add strategy centered on lease-up and tenant improvement work.
The property, located at 120 Exchange Logistics Park Drive within Exchange Logistics Park along the Anderson and Greenville county lines, sits less than half a mile from Interstate 85. The building was completed in 2023 and is situated on approximately 11 acres.
Property Specifications and Current Occupancy
The single-story industrial facility features 32-foot clear heights, ESFR fire protection, LED high-bay lighting, a 135-foot truck court, and abundant dock-high loading positions. Its shallow-bay configuration is designed to accommodate a range of tenant sizes and operational requirements, offering flexibility for multi-tenant divisibility.
The building is currently occupied by two tenants, with approximately 92,000 square feet leased and 65,000 square feet — roughly 41% of the building — vacant. Brennan plans to complete move-in-ready improvements, including speculative office build-out, to position the vacant space for near-term leasing. The property's occupancy stands at approximately 59% at the time of acquisition.
Financial terms of the transaction, including sale price, cap rate, and financing details, were not publicly disclosed.
Strategic Rationale in the Greenville-Spartanburg Market
"Brennan continues to see outstanding opportunities throughout the Carolinas, and this acquisition aligns perfectly with our strategy of investing in high-quality industrial assets in markets with strong long-term fundamentals," said Rob Gage, Managing Principal at Brennan Investment Group. "We have leased over 800,000 square feet of warehouse space in our other projects in the Greenville-Spartanburg-Anderson market in the last 18 months. This market has very strong fundamentals driving warehouse demand. We look forward to executing our asset management strategy and creating value upon stabilization."
The property is located minutes from downtown Greenville and the South Carolina Technology and Aviation Center. Its position along the I-85 corridor provides connectivity across the Greenville-Spartanburg-Anderson market and to Atlanta and Charlotte via a major Southeast freight spine.
"The Greenville-Spartanburg region remains one of the strongest industrial markets in the Southeast, supported by exceptional infrastructure, a highly skilled workforce, and continued economic growth," said Kevin Brennan, Chief Investment Officer of Brennan Investment Group. "This acquisition reflects our continued conviction in well-located industrial assets that offer both stable, in-place income and meaningful upside through thoughtful asset management. We are excited to add another high-quality property to our growing Carolinas portfolio."
Value-Add Investment Strategy
Brennan is pursuing the acquisition as a value-add investment, targeting lease-up of the 65,000 square feet of vacant space to stabilize income. The planned speculative office improvements are intended to reduce tenant improvement timelines and make the space more competitive for users seeking turnkey industrial accommodations. The building's shallow-bay layout supports divisibility for a range of tenant sizes, including distribution, light manufacturing, and supply chain users.
The acquisition follows Brennan's active leasing activity in the broader Greenville-Spartanburg-Anderson corridor, where the firm reports having leased more than 800,000 square feet across its existing projects over the prior 18 months. That track record underpins the firm's confidence in absorbing the current vacancy at the Exchange Logistics Park asset.
Brennan Investment Group's National Industrial Platform
Brennan Investment Group acquires, develops, and operates industrial properties across select major metropolitan markets in the United States. Since its founding in 2010, the firm has acquired or developed $6.5 billion in industrial real estate across 30 states. Its current portfolio encompasses approximately 58 million square feet. The firm co-invests with private and institutional capital and maintains 18 regional offices nationwide. Brennan's management team has collectively invested in more than 5,000 properties spanning more than 60 cities in the United States, Canada, and Europe.
The Piedmont acquisition further extends Brennan's presence in the Carolinas, a region the firm has identified as a priority market driven by sustained population growth, manufacturing expansion, and ongoing demand for modern logistics space.
Sources
Brennan Investment Group — Official Announcement, July 27, 2026